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is the story with chicago? truly as bad as detroit or heading in that direction? >> economically not as bad a viable global city but their budget is a mess. $3 billion in taxes they collect, this year is the need to a $415 million for pensions and that is going to $1 billion in a year. this release the projection, that would be the third tax collection going in to pensions. this is something the state is mandating and they don't know how they can pay that. lori: you mentioned chicago economically in better shape. look at the baseball game where all those people to do a rod, more about that this afternoon but the underlying economy of chicago seems to have some growth potential. >> the economy there is okay and. nobody is really flying in this economy but here is the point, has not been economically declining of the way detroit is but their pension obligations are, their pension system is in worse shape than detroit's, detroit's system is considered an argument how well funded it is but they have four pension systems in chicago, one of them is only 25% funded and the other one is only 38% fu
the battle over detroit's books. unions say detroit city was too quick to file bankruptcy. who will win? we'll check in on the math. that is coming up with ashley webster who joins me the next hour of fox business. please don't miss it. my mantra? trust your instincts to make the call. to treat my low testosterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing whilsleeping; and blood clots in t
a lawsuit in court. that is my guess. charles: take it away. not happy with the detroit bankruptcy filing. they need to speak up today or hold their peace. holding back financial aid to egypt. do we need to cut off all of the money going to that country? a raspberry instead of blackberry. the movie about steve jobs came in second at the box office over the weekend. listen to this. some wood off to lease themselves rather than till death do us part. ♪ connell: off to a good start. raspberry instead of apple. we have to rush to the news here. dagen: eckerd over the weekend. we have it all covered. connell: first the markets. last week was a rough week for stock markets. >> the dow was down 2.1% last week. the worst week for the dow and more than a year. they spoke in apple shares. it is kind of casting over the market a little bit. retail continues a little bit. they reported their numbers for the quarter. very convenient that dollar general got an upgrade today. that stock is up. dagen: deadline day today in detroit. connell: let's bring in jason riley. they are saying is detroit really
points lower than june. detroit emergency manager apologizing after calling some of the city residents those names. and the nfl hit with another concussion lawsuit. 83 former players led by pro-bowlers. they say they are suffering long-term effects from brain injuries sustained during their playing days. and we're watching the market this hour of "markets now." ♪ connell: those headlines show you there is a lot going on-9 today. we will get to the mess in egypt in just a moment, but first, our market today with the selloff, seeing the biggest decline in a couple of months. nicole petallides starts us off on the floor of the new york stock exchange. nicole: you are absolutely right. the lowest point, the biggest move to the downside since june 20. down about 1.5% right now. back on june 20 the dow dropped over 2%, this is the biggest moving percentage terms since that time. you have a couple of names that are weighing on the do dow jones industrial, better-than-expected economic news. walmart and kohls are two names we are following closely. as well as cisco systems. walmart higher p
. is chicago the next detroit? we raise this question before, why the problems plaguing the windy city could lead down the exact same road. ♪ with fidelity's options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens, and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer one pill each morning 24 hours. zero heartburn. do you min grabbing my phone and opening the capitaone purchase eraser? i need to redeem some venture miles before my demise. okay. it's easy to erase any recent travel expense i want. just pick that flight right there. mmm hmmm. give it
to take advantage of that. today, the final day for organizations to file objections to detroit's bankruptcy filings. they must find that the city is insolvent and has negotiated in good place with creditors. if detroit is deemed eligible, it will be the biggest case in u.s. history. lori: in the meantime, president obama getting back to business. meeting with financial regulators about implementing dodd-frank peter barnes has the very latest. peter: that is just one of the latest things he has on his plate. very busy with things like egypt and syria. the president would like to keep the focus on jobs and the economy. foreign-policy issues may not let him do that. he goes on a two were later this week. congress is out on its regular august recess. he has a megaphone right now and he needs to use it while he can. >> every president in their second term, lame ducks get closer every day. the president is walking a fine line of where he is in that timeline. peter: the end of the fiscal year is september 30. they have not worked out a deal to fund the government. they are looking at
pleasure. lori: gerri willis will talk with bill emerson from detroit. he runs the long largest online mortgage lender. "the willis report," 6:00 and 9:00 p.m. adam: americans can't get enough of "sharknado." the campy movie is twitter sensation, so much so sci-fi launch ad contest to name the sequel. after 5000 title submissions, the winner is, are you ready for this? "sharknado" 2 the second one. look out shark fans, a storm is coming to your tv next summer. lori: can't put your finger on why, but that movie is an absolute sensation. adam: like the old american international films from the '60s that they used to run on tv, sci-fi films real low budget and made no sense and they make a gazillion dollars. with all the sharks and agents in los angeles, you would think sharks would be out there. lori: there was a shark on the subway in new york. that was little scary. adam: picture of kids found it on the beach and took it on the n train i think. lori: absolutely. more on "sharknado." when sleeping on the job might be a good thing. a company that has employees living and working together
games in the ongoing investigation, and among those, texas rangers right fielder cruz, detroit shortstop, and still no word on yankee's star alex rodriguez. adam: embassies authorized to open by the state department after they were closed sunday because of a threat from al-qaeda. nineteen posts, however, remain closed as a result of what the state department calls an exercise of caution. back in the united states, no suggestion that new york city faces a direct threat. the nypd made no changes, even as the department of homeland security beefs up its presence at airports and train stations. fox news middle east and terrorism analyst joining us with the latest development. i got to let you know, i'm going to bring something into the discussion, you know, the price of oil is actually falling right now, indicating that at least investors don't seem as concerned as the u.s. government. is this a false alarm? i mean, we have members of congress saying it was a cred l -- credible threat. >> look, the financial world is always concerned about the financial root, the financial structures, so if
make of this? worried about the road ahead, auto critic with the detroit free press joining us from michigan, good to see you. i did not intend to make a car related pun about driving. a lot of this is in a pickup trucks and larger vehicles. are you worried these automakers are making the same a stake they did in the 90s? it blew up in their face. >> not really. the increase in pickup trucks is due to a lot of businesses stocking up again because they think the economy is getting better and many as you thes we see our smaller than the vehicles that existed in 90s and more fuel efficient. the problem is when car and suv sales get out of whack and you are making your money on huge vehicles and losing money on cars that doesn't seem to be the case. the ford fiesta is up 90% in july versus last year which was a stunning number. dagen: we should really celebrate these automakers and rejoice in effect these sales are so good and the quality of these vehicles is so good. you get in any small american sedan these days and even in many cases it is superior to what you would buy in japan or f
and more than half of the company's 1.3 million u.s. employees are on its health care plans. >>> in detroit a federal judge moved up the a hearing on the city's eligibility for bankruptcy. instead of october 23rd, egin on september 18 to determine whether detroit is insolvent and if the city negotiated in good faith with its creditors. >>> texas is home to four out of top five cities for u.s. business. baltimore was fourth and hughes to infifth. rankings are based on growth rates, local taxes and regulations. >>> that's the latest from the fox business network, giving you the power to prosper. lori: who wants to intentionally step on broken glass when you go to the beach? well some florida beach communities are actually talking about putting it in the sand. joining me now from miami beach is fox's phil keating. hi, phil. >> hi, there. down here in florida, sand is is like gold. it draws millions of tourists every year which contributes $70 billion to the state's economy. believe it or not because of erosion constant along the coastline, you can see it with the three or four foot drop down t
-free municipal bond, but does detroit give you cause for concern? and other cities across the country that are in similar condition? >> well, i wouldn't touch the cities. you've got to do your homework. so, cities, whether it is harrisburg or detroit or stockton, california, they're are a number of cities you've got to get under the hood and look at the credits but if you look at the highest grade, quality tax-free bond today, they're out there with the yields between 4 and 5% and they're not city credits. they're not detroit's. when that analysis is done, at our present tax structure the taxable equivalent yield is about nine. where are you going to get nine in a liquid investment of very high credit quality? i don't see very much of it. so we shifted allocation to tax-free bond. ashley: very good. do your homework. always good advice. david kotok, thank you so much for joining us. we appreciate it. >> thank you. lori: let's take a specific look at the market because the gains thus far are evaporating slightly. lauren simonetti joins us from the floor of the stock exchange. you're wa
with more from detroit. >> there are tens of thousands of abandoned homes like this one across the city. that has led to increases in crime, decreases in property value and a drain on precious city dollars. the goal of the new initiative is to take these abandoned homes and in turn, decrease foreclosures, rebuild neighborhoods by making them look like this. >> stay away and will be shot. sounds like a common sight in neighborhoods all across the motor city where there are more than 78,000 abandoned homes, most of them fall out from the housing crisis. morrison 30 of those are on robert couch's small street and are magnets for swatters, scrapper's and criminals. >> let the community down, it is no community, we do what we can put neighbors can't do it by themselves. >> help is on the way in the form of wrecking balls and dump trucks. in a first of its kind program michigan is taking on detroit's foreclosure crisis and attempting to stabilize its neighborhood by demolishing 4,000 abandoned homes across the city calling it the largest ef history. >> by eliminating the blight in a neighbor
like detroit. what is the? we will tell you. connell: before we get to that, here are some of their winners today in the market on the s&p 500. ♪ connell: at the half hour, here is what we still have coming up for you. wayne rogers is here. we will get to wayne. then we take you behind the scenes on casting on hbo. then we take you to the country's premier auto auction. a ferrari backend apparently fetch close to $7 million. cheryl: it is for an auger before me. connell: i do not think i needed that comparison. dagen: yes, i am into cars. nicole: that is all they needed. this one is pertaining to the nsa leaker who is over there a broad. snowed and worked from 2009 until earlier this year. they are not talking about this. in the meantime, we have karl icahn in court. the story is so intertwined. dagen: detroit's fiscal crisis. it is just the beginning. potentially facing similar circumstances. there is one difference between us and the city. what is it? connell: wayne rogers is here to tell us, i hope. >> they do what is going on right now. they buy $85 billion a month. t
representing detroit says there are significant difficulties that are making it hard to reach a deal. two weeks ago, detroit filed for chapter 9 protection citing debts of at least $18 billion. >>> shares of athlon energy jumping nearly 35% on the company's new york city debut. pricing its initial offering at 20 buck as share. >>> factory orders rising to a record high in june boosted by strong demand in airplanes, machinery and autos. mark the second month that autos have been at an all-time high. that is the latest from the fox business network, giving you the power to prosper. lori: jurassic profits. that is what bidders will be going for in this fall with a rare set of dinosaur bones hits the auction block. paleontologist is the consulting director of a natural history department and the man behind this auction. we literally yanked him off his latest dinosaur bone dig. we're so supposed to welcome him here to help us explain the value of these fossils. how they determine the value and really what the dinosaur bone market and industry is like these days. sir, welcome to you. this going up fo
. they have not voted yet i don't think this will change because they can see what is happening detroit has just gone bankrupt and relied on gm and chrysler and ford they do not want to go the way of detroit to one of the pensions will be smaller you know, you'll end up with less at the end of the day. >> with the individual company you can change it if you change jobs in ticket with you that is the advantage. if you want to move to a better job you can without investing in your pension. tracy: give them props for trying. i don't know what they're thinking. [laughter] great to be with you. ashley: they go to the south because the state's give tax advantages nissan moved to just south of nashville for that reason so it makes sense. amazon moving into a new business rolling out where people can buy a fine art from people and galleries nearly 40,000 works by 5,000 artist but the well-known names are bringing in the big bucks the most expensive item norman rockwell going after four-point a million dollars. it's still works even with him in the war hall -- andy warhol. >> you would think you wo
index raised in august. now in detroit, a federal judge has moved up a hearing on the cities eligibility for bankruptcy. the top five for small businesses. said, san antonio and dallas. baltimore and houston came in next. that is the latest from fox business network. giving you the power to prosper. ♪ connell: jack lew saying our nation will hit the debt limit in late october. to d.c. now and rich edson. >> neither have an opening offer. they refuse to negotiate. that glue claims based on our latest estimates, extraordinary measures are expected to be exhausted. failure means irreparable harm to the economy. one analyst agrees. >> we still will have a very nasty situation where people do not trust us anymore and they want more money. >> the u.s. can expect a severe amount of confidence. while lawmakers return to washington in the next few weeks to figure this out, congress may have more time than he is claiming. officials said they would have only 50 billion in cash, but treasury ran a surplus last september which traditionally is a huge thing. connell: thank you. a great rapport. rich
. in detroit, a judge has the states bankruptcy case. 18 billion liabilities. the national federation says optimism is out. 94.1. that is up six times of one point. more people are paying their credit card bills on time. that is the latest from the fox business network. giving you the power to prosper. ♪ dagen: international speedway corporation breaking ground last month on a renovation of flagship. they are trying to boost attendance. i finally get to interview you, lisa. why do this now? >> $8.2 billion tv deal. a lot to do and choices to make. we will make a better experience for them. dagen: attendance has been a struggle. ratings have somewhat stabilized. this deal was quite easy to put together. we have rebounded. our attendance is rebounding. it will appeal to a younger group. dagen: the seats will be wider. there will be more restrooms. >> we will have a lot more opportunities for sponsorship. there will be revenue coming in from the sponsorship side. dagen: there are 11 other tracks. at which of those tracks will you also be reducing capacity? >> we will be renovating other tra
although there are too much price into them with the detroit bankruptcy although that is a unique event but on the heaviside before the holiday week but on average we're looking at 6 billion a of think it is that far out. lori: any other fixed-income tools we should look at? >> we have been encouraging customers to look at one market that i mentioned before is the fluting note rates issued by corporations and start with a fixed-rate but then five years convert to the floating rate but the benefit is the risk of the 5 yards -- five-year bond defensed does start to hike down the road. lori: i do remember that discussion. thank you. breaking news will closing down $0.5,105.92 a barrel. so with the decline in oil prices that is it today decline for the price of crude. donald trump is being sued $40 million for full profits of trump university for deceiving customers at every stage. his legal team has responded in rehab the details. >> they said the new york attorney general allegedly tried to settle the case but at just $5 million was pushing to settle. allegedly he told the trump organizat
the fed has done too much to turn back now. how it will all play out ahead. ashley: detroit to beijing, two thundershowers flat. new technology could make the world much smaller. we're life in a fox business exclusive. like l.a. to new york in 40 minutes. >>> breaking news on the monthly budget deficit. let's get straight to it and go to peter barnes in washington. peter? >> hey, ashley, deficit was $90 billion in july. 40% increase from the $70 billion deficit reported in july of 2012, but, for the fiscal year-to-date, the deficit is actually down by about that amount. it clocked in for the first 10 months of the fiscal year-ending july at $607 billion. that compares to $974 billion for the deficit for the same period last year. and, of course, this improvement in the deficit, is due to those higher tax increases that kicked in january 1st. higher payroll taxes as well as higher taxes on the wealthier earners. and lower spending here in washington caused by those sequester spending cuts. we have two more months left in the fiscal year and two more months in that fight before the next
Search Results 0 to 18 of about 19